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help a newbie: FAKE?
maheik
Posts: 2
hello everyone!
great forum, great comunity, i learned a lot the last few days reading and i need your help.
I grew up collecting world coins as we travelled, and as a kid thought the value of the collection is in its quantity not quality, but recently i started investing in coins and learning the ropes. I had never heard of coin certifications or slabbed coins, and as soon as i discovered that i went on ebay to buy a few...
I bought these 3 coins from the same seller for a total of almost $150 and as soon as i received them i suspected something fishy going on here.
ebay1 ebay2 ebay 3
the first red flag was that all three slabbed coins haave the exact same bar code (identical) and no other numbers on there. so i looked at the guy's profile and saw that only 2 people have complained that the coins have been cleaned/dipped. the second red flag was that NAS's slabs on their website look a bit different (and at least have a number along with the bar code). so i called the number for NAS and the number does not work...
so i have a suspicion that the coins were cleaned/dipped and then fake slabbed with high grades...
the interesting thing though is that the morgan looks like a really nice with the eagle's chest feathers very prominent if that is the right term to descibe them... i can take high res pics and post them if that helps.
any feedback is apreciated... i can return those coins and get my money back, but i would like to really hear some expert's thoughts and possibly report the guy if he is a fraud since he is selling a lot of coins
Thanks!
great forum, great comunity, i learned a lot the last few days reading and i need your help.
I grew up collecting world coins as we travelled, and as a kid thought the value of the collection is in its quantity not quality, but recently i started investing in coins and learning the ropes. I had never heard of coin certifications or slabbed coins, and as soon as i discovered that i went on ebay to buy a few...
I bought these 3 coins from the same seller for a total of almost $150 and as soon as i received them i suspected something fishy going on here.
ebay1 ebay2 ebay 3
the first red flag was that all three slabbed coins haave the exact same bar code (identical) and no other numbers on there. so i looked at the guy's profile and saw that only 2 people have complained that the coins have been cleaned/dipped. the second red flag was that NAS's slabs on their website look a bit different (and at least have a number along with the bar code). so i called the number for NAS and the number does not work...
so i have a suspicion that the coins were cleaned/dipped and then fake slabbed with high grades...
the interesting thing though is that the morgan looks like a really nice with the eagle's chest feathers very prominent if that is the right term to descibe them... i can take high res pics and post them if that helps.
any feedback is apreciated... i can return those coins and get my money back, but i would like to really hear some expert's thoughts and possibly report the guy if he is a fraud since he is selling a lot of coins
Thanks!
0
Comments
Thankfully you're not paying too much for your education. Return the Peace and Morgan if you can, but if you can't it's not a huge loss.
Welcome to the forum!
the 2 most reputable companies to get slabbed coins is
PCGS and NGC
yours were not, and likely cleaned and self slabbed
return them
read here for a while before another purchase
Good luck.
"Keep your malarkey filter in good operating order" -Walter Breen
Well the peace and the morgan look cleaned, and I don't know about the silver eagle but I can be pretty sure that it is not MS70. Get your money back. The top three grading companies are the ones that you should be looking at. But first you need to take some time and learn about what you are getting into before you just dive in. It can be real easy to get burned buying coins. I am sure that there will be many others chime in here and pretty much everyone is willing to help and give advice.
The Morgan Dollar and Peace Dollar appear to genuine, but circulated and cleaned. It is likely that the seller either graded and slabbed the coins himself or bought them from someone else who did. They are worth quite a bit less than you paid for them.
If at all possible, you should return them and not spend any more money on coins until you learn a lot more about grading, self slabbers, do's and don't of buying, etc. Best of luck to you.
<< <i>Well, the coins are all real, but the Peace and Morgan have been cleaned and/or polished and are basically junk silver at this point. They are not even close to the grades on the holders. The 2010 eagle certainly isn't a 70 either...you paid about $10 more than it's worth probably.
Thankfully you're not paying too much for your education. Return the Peace and Morgan if you can, but if you can't it's not a huge loss.
Welcome to the forum! >>
I agree 100% with "doh". I would send all three coins back for a refund. The slabs mean nothing. IMHO, the only slabs with any credibility are PCGS, NGC, ANACS (in that order).
But, you are learning; and that's what it's all about.
I agree with all above.
There is a lot of sarcasm here as you will find out, however, there are a lot of experts here that are more than willing
to help you with most anything.
I Like Gold.
AL
and this is probably whoever's basement job, and that's why the price is way under what a regular ms70 from the top 3 graders would bring.
Donato
Donato's Complete US Type Set ---- Donato's Dansco 7070 Modified Type Set ---- Donato's Basic U.S. Coin Design Set
Successful transactions: Shrub68 (Jim), MWallace (Mike)
Lots to learn in the hyped US coin hobby, so unless you are prepared to make mistakes like this, I would stay with world coins....
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Return them for a full refund and stay away from this crap! (which is what it really is!)
The name is LEE!
Been said here a few times.Certified coins from PCGS and NGC always offer the best value.Anacs is also highly regarded by many people.Any other TPG company should be avoided until you are comfortable with the knowledge of what to look for in terms of the coins condition.
If you must buy before you learn, focus on less expensive PCGS examples. It will hurt less down the road.
Welcome to the forum! Stick around and you will learn a lot.
Lance.
NAS was on a list of recognized certifier that i found on some coin collector website... but now i know!
I returned the coins for a full refund... it was the urge to actually own nice uncirculated coins for the first time ever but i guess that will have to wait.